Russia's SIBUR to Participate in Major Polymer Conference in Indonesia
The issuer is solely responsible for the content of this announcement.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
an hour ago
- Free Malaysia Today
Indonesia brushes off concern on data transfer to the US
Some American companies complained Indonesia's QRIS digital payment system did not benefit their operations. (QRIS Indonesia pic) JAKARTA : Indonesia on Thursday denied warnings that the transfer of personal data agreed in a trade deal with the US this week would put people's rights at risk. After weeks of negotiations, the White House said that it had reached an agreement with Jakarta that lowered tariffs on US-bound goods from the Southeast Asian nation, from 32% to 19%. US President Donald Trump said the reduction was in return for significant purchase commitments from Jakarta, including the purchase of 50 Boeing jets. The White House said Tuesday that Indonesia had also committed to removing barriers that impact digital trade and will provide certainty regarding the transfer of personal data to the US. Jakarta said negotiations on the details continued to be held. But experts warned the personal data transfer to a foreign country would be a further drain on Indonesia's already weak data protection apparatus. 'If there's a leak or improper use of the data, solving the problem would be a lot more complicated if the data is in another country,' Bhima Yudhistira Adhinegara, executive director of the Center of Economic and Law Studies. He said some American companies had been complaining about the Indonesian digital payment system, Quick Response Code Indonesian Standard, or QRIS, which they believed did not benefit their companies. With the tariff deal, the companies can access citizens' data, Bhima said. 'I don't know if the government is aware of how serious this is. We open all access to our data just for a lower tariff.' However, Jakarta reassured that the system was safe. 'The government assures that the data transfer to the US will not be carried out carelessly,' said digital communication minister Meutia Hafidz in a statement Thursday. 'On the contrary, the whole process will be conducted within a secure and reliable data governance framework.' She added that 'the data transfer between countries would still be carried out under the tight supervision of the Indonesian authorities, with high caution, based on the national law.'
Free Malaysia Today
4 hours ago
- Free Malaysia Today
Trump sets 19% tariff on Indonesian goods in latest deal, EU readies retaliation
Donald Trump announced that Indonesia agreed to buy US$19.5 billion in US goods and an order for 50 Boeing jets, with no timeline set. (AP pic) WASHINGTON : President Donald Trump on Tuesday said the US would impose a 19% tariff on goods from Indonesia under a new agreement with the Southeast Asian country and more deals were in the works as he continued to press for what he views as better terms with trading partners and ways to shrink a huge US trade deficit. The pact with the relatively minor US trading partner is among the handful struck so far by the Trump administration ahead of an Aug 1 deadline for tariffs on most US imports to rise again. The accord came as the top US trading partner – the European Union – readied retaliatory measures should talks with Washington fail. As that deadline approached, negotiations were under way with other nations eager to avoid more US levies beyond a baseline 10% on most goods that has been in place since April. Trump's roll-out of the policies has often been chaotic. His moves have upended decades of negotiated reductions in global trade barriers and roiled international financial markets and economic activity along the way. Based on Trump tariff announcements through Sunday, Yale Budget Lab estimated the US effective average tariff rates will rise to 20.6% from between 2% and 3% before Trump's return to the White House in January. Consumption shifts would bring the rate down to 19.7%, but it's still the highest since 1933. Trump outlined an Indonesia deal similar to a pact struck recently with Vietnam, with a flat tariff on exports to the US roughly double the current 10% and no levies on US exports going there. It also included a penalty rate for so-called transhipments of goods from China via Indonesia and a commitment to buy some US goods. 'They are going to pay 19% and we are going to pay nothing … we will have full access into Indonesia, and we have a couple of those deals that are going to be announced,' Trump said outside the Oval Office. Trump later announced on his Truth Social platform that Indonesia had agreed to buy US$15 billion of USenergy products, US$4.5 billion of American farm products and 50 Boeing jets, though no time frame was specified. Trump: India talks moving the same way Indonesia's total trade with the US – totalling just under US$40 billion in 2024 – does not rank in the top 15, but it has been growing. US exports to Indonesia rose 3.7% last year, while imports from there were up 4.8%, leaving the US with a goods trade deficit of nearly US$18 billion. The top US import categories from Indonesia, according to US Census Bureau data from the International Trade Centre's TradeMap tool, last year were palm oil, electronics equipment including data routers and switches, footwear, car tires, natural rubber and frozen shrimp. Susiwijono Moegiarso, a senior official with Indonesia's coordinating ministry for economic affairs, told Reuters in a text message: 'We are preparing a joint statement between US and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon.' Trump had threatened the country with a 32% tariff rate starting Aug 1 in a letter sent to its president last week. He sent similar letters to about two dozen trading partners this month, including Canada, Japan and Brazil, laying out tariff rates ranging from 20% to 50%, plus a 50% tariff on copper. Speaking in Pittsburgh on Tuesday, Trump said he favoured blanket tariffs over complicated negotiations, but his treasury secretary Scott Bessent and commerce secretary Howard Lutnick were keen to land more trade agreements. Upon his arrival back in Washington, Trump told reporters that letters would be going out soon for many smaller countries, suggesting they would face a tariff of 'a little over 10%.' The Aug 1 deadline gives targeted countries time to negotiate about lower tariff rates. Some economists have also noted Trump's pattern of backing off his tariff threats. Since launching his tariff policy, Trump has clinched only a few deals, falling short of earlier promises to land '90 deals in 90 days.' So far, framework agreements have been reached with the UK and Vietnam, and an interim deal has been struck with China to forestall the steepest of Trump's tariffs while negotiations continue between Washington and Beijing. Trump said talks with India were moving 'along that same line,' adding, 'We're going to have access to India. And you have to understand, we had no access into any of these countries. Our people couldn't go in. And now we're getting access because of what we're doing with the tariffs.' EU readies retaliation The breakthrough with Indonesia came as the European Commission, which oversees trade for the EU, prepared to target €72 billion (US$84.1 billion) worth of US goods – from Boeing aircraft and bourbon whiskey to cars – for possible tariffs if trade talks with Washington fail. Trump is threatening a 30% tariff on imports from the EU from August 1, a level European officials say is unacceptable and would end normal trade between two of the world's largest markets. The list, sent to EU member states and seen by Reuters on Tuesday, pre-dated Trump's move over the weekend to ramp up pressure on the 27-nation bloc and responded instead to US duties on cars and car parts and a 10% baseline tariff. The package also covers chemicals, medical devices, electrical and precision equipment as well as agriculture and food products – a range of fruits and vegetables, along with wine, beer and spirits – valued at €6.35 billion.
The Sun
5 hours ago
- The Sun
SIBUR Uses Proprietary Technology to Produce High-Performance Plastic
MOSCOW, RUSSIA - Media OutReach Newswire - 24 July 2025 - SIBUR, Russia's largest polymer producer, has begun manufacturing a high-performance plastic, polyphthalamide (PPA), based on its proprietary technology. This material features a unique combination of strength, stability, and resistance to aggressive environments. Thanks to these properties, PPA is widely used in the production of packaging films for food and pharmaceutical products, as well as in the manufacturing of automotive engine compartment parts and electrical equipment components. PPA can also be used in pumps, compressors, and industrial fittings, where high strength and chemical resistance are required. SIBUR is also developing other types of high-performance plastics, including polyetherketoneketone (PEKK), polyarylsulphones (PSU, PPSU, PESU), and polyphenylene sulphide (PPS). The company's scientific advancements create opportunities to scale up proprietary technologies and establish production of these materials in Russia. High-performance plastics – which retain their properties at elevated temperatures and in aggressive environments – sit at the top of the polymer materials pyramid. At the base of this pyramid are commodity polymers, the most common being polyethylene and polypropylene, while the middle tier is occupied by engineering plastics such as polycarbonate and polyamide. Products made from high-performance plastics are 40%–50% lighter than aluminium and titanium parts while offering high strength, heat resistance, and mechanical durability. Replacing metals with polymers typically leads to fuel savings, reduced carbon emissions, and increased payload capacity. These materials also feature high chemical resistance, excellent impact strength, flame and smoke resistance, and non-toxicity, critical attributes for the aerospace and shipbuilding industries. Their excellent biocompatibility and radiolucency also make them highly sought after in the medical field, including for the production of advanced implants and prosthetics. The development of innovative synthetic materials, along with the design of proprietary catalysts and specialised components to control polymer properties, is a key element of SIBUR's scientific and technological development strategy.
